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CentralBankNet Monday Special Feature
SPECIAL FEATURE - The Federal Reserve boldly sliced half a point off interest rates last week but the Bank of England and ECB held firm. In this weeks Special Feature CentralBankNet looks at how the markets reacted to the decisions and whether the…
The SEC's new start
ARTICLE - To paraphrase Winston Churchill, Harvey Pitt did the honourable thing this week. But only after he had exhausted every possible alternative.
A new policy divide across the Atlantic
ARTICLE - Their analysis was so similar: the US Federal Reserve said on Tuesday that "inflation and inflationary expectations remain well contained"; Wim Duisenberg, the European Central Bank's president, concurred yesterday when he talked about "reduced…
UAE concession to foreign banks
UAE - Foreign banks in the United Arab Emirates are to receive a concession under a new central bank law to be issued early next year.
Argentina and IMF at odds over payment
ARGENTINA - Argentina and the International Monetary Fund remain some distance apart in negotiations over an agreement that would make it easier to make a $805m debt payment due to the World Bank next week.
Central bankers do it their way
ARTICLE - It is as well that central bank actions are not co-ordinated. The US Federal Reserve has a clear bias towards stimulus and preventive action, as its half-point cut in interest rates this week shows.
ECB Press Conference
PRESS CONFERENCE - Introductory statement by Willem F. Duisenberg, President of the European Central Bank, Lucas Papademos, Vice-President of the European Central Bank, with a transcript of the questions and answers, Frankfurt, 7 November 2002.
World Bank backs more powers for Bangko Sentral
PHILIPPINES - The world Bank favours the legislation of stronger powers for the Bangko Sentral ng Pilipinas to intervene in cash-strapped banks as part of further reforms to improve the country's regulatory and supervisory framework.
Central Bank of Kenya to be sued
KENYA - The National Social Security Fund (NSSF) yesterday took the Central Bank of Kenya (CBK) to court seeking to recover over Sh258 million.
SAMA warns of attempts to forge Saudi riyal notes
SAUDI ARABIA - The Saudi Arabian Monetary Agency (SAMA) has cautioned the public against attempts by some gangs to forge Saudi currency notes. It said the central bank, with the help of law enforcement agencies, has taken added security measures to…
A government move to clean up loans backfires
ARTICLE - China's four asset-management companies are supposed to be the cutting edge of the government's strategy to clean up the banking system. They may, in fact, end up doing more harm than good--by posing a threat to the health of the body that…
ECB chiefs wife stirs Middle east passions
ARTICLE - When Gretta Duisenberg hung a Palestinian flag from her balcony, her neighbour wrote her a polite complaint. When she agreed to head an organization called "Stop the Occupation," the criticism grew louder.
BOK Governor Park to attend BIS meeting
KOREA - Bank of Korea (BOK) Governor Park Seung is leaving for Mexico today to attend the Bank for International Settlements (BIS) governors meeting scheduled for 10-12 November in Mexico City, the central bank announced yesterday.
Curb inflation, not economy - Tito Mboweni
SOUTH AFRICA - Central bank governor Tito Mboweni sent a strong signal on Thursday that interest rates may have peaked, saying the fight against inflation must not jeopardise the health of the overall economy.
Barbados c bank publishes new e banking guidelines
BARBADOS - The Central Bank of Barbados has published new guidelines for electronic banking in the island.
Bies-Fed monitoring commercial real estate, credit
US - The U.S. Federal Reserve is monitoring rapidly growing vacancy rates in commercial real estate and a surge in consumer credit, Fed Gov. Susan Bies said on Thursday.
Latvia ok's new gov't headed by ex-central banker
LATVIA - Latvia's parliament gave its approval Thursday to a new government headed by former Central Bank president Einars Repse, who vowed to stop corruption in the ex-Soviet Baltic republic.
Bank of Canada Working Paper
RESEARCH - Bank of Canada Working Paper by David Andolfatto, Scott Hendry, and Kevin Moran, October 2002. Various measures indicate that inflation expectations evolve sluggishly relative to actual inflation. In addition, they often fail conventional…
Poole on the Fed's Role in Community Development
SPEECH - In the speech 'The Fed's Role in Community Development' made on 23 October, William Poole of the Federal Reserve Bank of St. Louis said in March 2003, the Federal Reserve System's Community Affairs offices will sponsor its third academic…
Azeri banking in upswing, National Bank boss says
AZERBAIJAN - The Azerbaijani banking system, which was in a poor state in 1993-95, is experiencing a period of upswing, the chairman of the board of the National Bank of the Azerbaijani Republic, Elman Rustamov, has said.
Polish gov't worried about overvalued currency
POLAND - The Polish government continues to believe that the zloty is overvalued and interest rates too high, Prime Minister Leszek Miller said Wednesday.
Germany braces for budget criticism
GERMANY - Germany is facing the threat of a formal reprimand from the European Commission for its growing budget deficit.
Economy coming out of recession - Barbados c bank
BARBADOS - A flicker of growth in the economy during the third quarter of this year has signalled that Barbados is coming out of recession.
Malaysia bank mergers seen next year
SINGAPORE - The Malaysian banking sector is due for a new round of consolidation ahead of further liberalisation in 2007 -- and mergers, especially among the smaller existing banks, could start toward the end of next year, analysts say.